Council approves city authorization for MassDevelopment financing to support Patrica Industries expansion

The Pittsfield City Council unanimously approved an order authorizing the Massachusetts development finance authority to provide financing for a manufacturing expansion by Patrica Industries.

Councilor Noble moved the measure; after questions from Councilor Warren, city staff said MassDevelopment approached the city because the local Pittsfield investment authority — historically the body that would have signed off on similar projects — is defunct. The authorization allows MassDevelopment to provide access to bond financing for the project.

City staff described the project as a roughly 15,500-square-foot addition with plans to add about 50 employees and said the financing package is “a little over $4,000,000.” Staff said the city did not have the specific terms of MassDevelopment’s financing agreement; MassDevelopment was expected to act quickly and had a scheduled vote on Feb. 13.

Councilors noted the economic-development intent and expressed support. Councilor Cady said the city’s business manager provided a starting wage estimate “around $50,000” for the new positions.

On questions about whether a local authority would be preferable, staff and the mayor noted that redevelopment and investment authorities created in past decades had been consolidated into community development functions and that MassDevelopment’s bond-market access serves a similar role when a local entity is not operating.

The council voted in the affirmative on the order authorizing MassDevelopment financing; the vote was unanimous.